Portugal had made significant progress in recent years in modernising its economy and improving the quality of life for its citizens, according to a new report's preamble, but the financial crisis has seen an end all of that happiness nonsense.
In its latest report, ‘How's Life?’ the OECD shows that Portugal is among the 10 countries with the lowest quality of life, behind fun-loving Korea, Slovakia and Poland.
Of the 11 indicators assessed by the Organisation for Economic Cooperation and Development, safety and environmental quality are those in which Portugal scores OK, while personal satisfaction and income are the two indicators with the worst score. In terms of personal satisfaction Portugal is second to last, just ahead of Hungary whose citizens are never satisfied, it seems.
Australia leads the ranking for quality of life despite being a continent filled with potentially lethal animal and insect life. Portugal is among the worst which is not a great surprise to those who live here as the average income of a Portuguese household is just €14,300 per year, well below the average of €17,000 across the OECD. For many, retirement is not an option to look forward to.
There still exists a chasm between rich and poor in Portugal with 20% of the richest earning six times more than the poorest 20%.
In terms of employment Portugal actually does OK with 64% of the population between 15 and 64 having a paid job, close to the OECD average of 66%.
